The National Institute of Economic and Social Research

UK Economy To Slow Down In 2017 and 2018, Report Concludes

UK Economy To Slow Down In 2017 and 2018, Report Concludes

The UK economy is expected to slow down both this year and next, according to a report by The National Institute of Economic and Social Research (NIESR). Despite 2% growth in 2016, including 0.6% in Q4, NIESR’s forecast predicts the UK economy will slow to just 1.7% in 2017 and 1.9% in 2018. A drop in value of the pound sterling versus international currencies, and the impact of Brexit means consumer price inflation is likely to rise – which spells potentially good news for businesses but bad news for consumers. In global terms, the world economy is expected to grow at a faster rate in the next couple of years, with the annual growth rate forecast to rise from 3% in 2016 to 3.1% in 2017, and then to 3.5% in 2018. Simon Kirby, head of macroeconomic modelling and forecasting at NIESR said: “... »